Tuesday, July 5

Mexico auto association sees slow recovery of chip supplies


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MEXICO CITY — The Mexican Auto Industry Association (AMIA) expects a slow recovery in the supply of semiconductor chips to the country, an essential component for the production of vehicles, the group’s director said at a news conference on Monday.

“We’re seeing that there will be a recovery but it won’t be at the end of this year, nor during the next,” AMIA director Fausto Cuevas said.

Mexican automotive production and exports in May rose compared to the same month a year earlier, data from national statistics agency (INEGI) showed earlier on Monday.

Production jumped by 15.22% to 275,436 vehicles and auto exports rose by 1.08% to 244,643 units, the data showed. (Reporting by Anthony Esposito and Kylie Madry; Editing by Dave Graham and Mark Porter)



financialpost.com